Muscat – OQ, the sultanate’s global integrated energy group, on Wednesday laid the foundation stone for its Strategic Fuel Storage Project in Musandam. The project, with an investment of over RO78mn, was inaugurated under the auspices of H E Ibrahim Said al Busaidi, Governor of Musandam, and in the presence of local dignitaries and officials.
This initiative is part of OQ’s commitment to sustainable economic development and addresses the rising demand for petroleum products driven by population growth and increased commercial activities. The fuel storage facility will serve as a strategic reserve for various fuels, including gasoline (Mogas 91 and Mogas 95), LPG, and jet fuel, ensuring an uninterrupted supply during emergencies. The facility will have a storage capacity exceeding 14,536 cubic meters.
Highlighting the significance of the project, H E Busaidi said, “The Strategic Fuel Storage Project ensures that Musandam’s fuel needs are met, even in emergencies, covering the needs of nationals and residents for different fuel products. This is a vital contribution from OQ to the Musandam Governorate, bolstering its ongoing investments and support for local communities.”
H E Eng Salim bin Nasser al Aufi, Minister of Energy and Minerals, said that the groundbreaking of the strategic fuel storage project in Musandam is part of the ministry’s ongoing efforts, in collaboration with OQ Group, to ensure the availability of petroleum products for residents and citizens, especially in emergencies.
H E Aufi also highlighted the increasing local demand for petroleum products driven by population growth and expanding commercial activities.
Speaking at the ceremony, Ashraf Hamed al Mamari, Group CEO of OQ, said, “This project marks another addition to OQ Group’s investments in Musandam of over RO800mn. It also underscores OQ’s commitment to fulfilling its national responsibility in advancing energy sustainability and effectively responding to the growing energy demands in the governorate.”
The project is set to be completed within 36 months and will involve both engineering and construction phases leading to full operation. It will feature a fuel tank terminal and a marine facility to receive ships.
The terminal will have a platform for receiving products, connected to a pipeline at a depth of around 39 meters. The platform will be powered by solar and wind energy. The pipeline will consist of two 12-inch lines, each two kilometers long, and will be accompanied by a parallel fiber optic cable.
OQ Group operates across 17 countries, covering the entire value chain from exploration and production of oil and gas, refineries and petrochemicals, to marketing and distribution of end-user products reaching more than 80 countries worldwide. OQ Alternative Energy focuses on investments in renewables and green hydrogen in Oman.
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